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USDZAR Phase Of ZAR Strength Close To Ending

By Russell ShorForexFeb 08, 2019 10:27
za.investing.com/analysis/usdzar-phase-of-zar-strength-close-to-ending-200198147
USDZAR Phase Of ZAR Strength Close To Ending
By Russell Shor   |  Feb 08, 2019 10:27
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The below is the daily chart of the USDZAR. We note that January was indicative of a ZAR strengthening phase: the USDZAR’s EMAs were in a bearish stack.

The green 5-day EMA was below the orange 13-day EMA, and the orange 13-day EMA was below the black 34-day EMA. However, the RSI(9) has moved above 50 and is indicative of an underlying bullish momentum (blue rectangle). Furthermore, the green 5-day EMA is converging on the orange 13-day EMA (red ellipse). If they cross the bearish stack will effectively come to an end and a more neutral formation will chart.

USDZAR Daily
USDZAR Daily

USDZAR Phase Of ZAR Strength Close To Ending
 
USDZAR Phase Of ZAR Strength Close To Ending

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Reuben Hawley
Reuben Hawley Feb 08, 2019 15:56
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couldnt agree more. always a good idea to b3 short on ZAR
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